Reports & rentals
Depreciation reports
Help arranging a tax depreciation schedule for an investment property, with each step explained. Schedules are prepared by an appropriately qualified professional, such as a quantity surveyor, and your accountant or registered tax agent advises on how to use them.
Illustration. Not an actual property or real inspection work.
- Owners of residential investment properties.
- Investors who have bought, built or renovated a rental property.
- Owners whose accountant or registered tax agent has suggested a depreciation schedule.
- A plain explanation of what a depreciation schedule is and what it usually contains.
- Arranging for the schedule to be prepared by an appropriately qualified professional, such as a quantity surveyor.
- Gathering the property information the preparer asks for.
- Coordinating access for any site inspection the preparer needs.
- A depreciation schedule prepared by an appropriately qualified professional.
- A plain-language walk-through of how the schedule is set out.
- Help filing the schedule with your other property records.
The schedule itself is prepared by an appropriately qualified professional, such as a quantity surveyor, so its layout is theirs. This illustration shows the kind of structured document you can expect, and we walk you through how yours is set out.
Typical schedule layout
Depreciation schedule
- Property
- Placeholder
- Prepared for
- Placeholder
- Reference
- Placeholder
- Prepared by
- Placeholder
Property details
Basis of preparation
Building works
Plant & equipment
Notes for your accountant
A layout illustration only. The layout and contents of your schedule are set by the qualified professional who prepares it.
Gather the purchase or construction details you have, such as the contract and settlement date.
Collect records of renovations or improvements, with approximate dates.
Let us know if the property is tenanted, so access can be arranged with proper notice.
Talk to your accountant or registered tax agent about whether a schedule suits your situation.
Can’t see your question? Send an enquiry and we’ll come back to you.
More detail
More about depreciation reports
How it works
Tell us about the investment property and whether your accountant or registered tax agent has suggested a schedule. We'll explain the process, confirm what's involved and provide a quote. The schedule is prepared by an appropriately qualified professional, who may need to inspect the property. We help gather the information they ask for and coordinate access.
What a depreciation schedule is
A tax depreciation schedule is a document that sets out the building costs and the fixtures and fittings of an investment property, and how they may be depreciated over time for tax purposes. It is prepared by an appropriately qualified professional, such as a quantity surveyor. How you use it, and what you can claim, is a matter for your accountant or registered tax agent.
What VicWide does and doesn't do
VicWide helps you arrange the schedule and explains how it is set out, in plain language. VicWide doesn't give tax advice, estimate what you can claim, or promise any tax outcome. Those questions belong with your accountant or registered tax agent.
Learn with VicWide
Showing 2 topics
Building
What do property owners often ask about their homes?
Many owner questions come back to a few themes: what needs a permit, which records to keep, and who to ask about a particular problem. This topic works through common questions in plain language and points to the right person for each.
Key points 5
- Check whether a permit may be needed before starting building work, including smaller projects.
- Keep permits, plans, certificates and warranties together. They matter when you sell, rent or renovate.
- Some questions need a specialist, such as a licensed land surveyor to confirm a boundary.
- An inspection describes condition. It doesn't settle disputes or give legal advice.
- If you're not sure who to ask, send an enquiry and we'll point you in the right direction.
Related service: Documentation assistance
Rentals
How should rental providers and property managers record a property's condition?
Clear, dated records of a rental property's condition help owners, rental providers and property managers keep track of the property over time. This topic covers routine and pre-tenancy condition records, good photo practice, and where Victoria's rental minimum standards fit in.
Key points 5
- Victoria has minimum standards for rental properties. Check the official renting guidance for what applies.
- Record condition before a tenancy begins and at routine inspections, with dated photos.
- Describe what you see room by room, in plain and neutral language.
- Keep condition records together with repair invoices and compliance paperwork.
- A condition record isn't legal advice. Seek advice about disputes or legal obligations.
Related service: Rental inspections
Ready when you are
Enquire about depreciation reports
Tell us about the property. We confirm the scope and a quote with you before anything is arranged.